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Speaker 1: Donald Trump is seeking nothing less than a total restructuring

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Speaker 1: of a global trade environment which penalizes American companies, American workers,

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Speaker 1: and American taxpayers through all manner of unfair trade tariffs

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Speaker 1: and non tariff barriers, in this case taxation. As you

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Speaker 1: mentioned regulation, and it worked back in the fifties when

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Speaker 1: we were trying to help the global economy recover after

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Speaker 1: a war. But we have this practice of just surrendering

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Speaker 1: our treasure to the rest of the world for no

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Speaker 1: good end anymore. And ultimately, these are national security issues

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Speaker 1: because if we don't have a manufacturing and the defense

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Speaker 1: industrial base and tech companies which have every dollar they

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Speaker 1: need for cutting ed AI and research and development, we're

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Speaker 1: not going to be the country that we need.

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Speaker 2: To be end.

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Speaker 3: I mean, back the manufacturers went.

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Speaker 4: Into recession late twentye twenty nineteen because of the tariffs.

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Speaker 4: So I mean, we're in a different world, a globally

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Speaker 4: connected world where you know, some of these CEOs that

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Speaker 4: we talked to are very concerned about tariffs. They're worried

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Speaker 4: about demand destruction, they're worried about price shots, they're worried

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Speaker 4: about trading relationships.

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Speaker 1: We heard the same concerns back during the first term

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Speaker 1: when President Trump levied historic tariffs on China, levied historic

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Speaker 1: tariffs on stealing aluminum, levied historic tariffs on things like

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Speaker 1: solar and washing machines. And what we got out of

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Speaker 1: that was not the sky's falling, recession or inflation. What

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Speaker 1: we got was price stability and prosperity. And one of

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Speaker 1: the eighth I think the eighth wonder of the world

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Speaker 1: is you go to the Pride to Clyde in Ohio

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Speaker 1: and you go to the Whirlpool factory. There's a washer machine.

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Speaker 1: It comes off every four seconds down there, come.

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Speaker 5: Back to it's another like four or five minutes. I

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Speaker 5: beg it diff're worth right there, she said. Was a

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Speaker 5: recession in eighteen and nineteen nineteen. Of the fourth quarter

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Speaker 5: of nineteen was world on fire in a good way.

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Speaker 5: Jim Riggers is going to join us here in a moment.

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Speaker 5: Ej So President Trump on Tuesday, he just sent it

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Speaker 5: a true social four percent on Mexico across a twenty

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Speaker 5: five percent of Mexico, twenty five percent of Canada, two

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Speaker 5: of our largest trading partners. And I don't know if

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Speaker 5: China is a partner or we're in complete submission to them,

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Speaker 5: since the trade devilicit's so massive, but ten percent on them.

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Speaker 5: Your thoughts is, Peter Noavar, right, is this a total

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Speaker 5: geoeconomic reset for the United States? And looking at this

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Speaker 5: as a premium market because he's not. He's not putting

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Speaker 5: a twenty five percent tariff on an avocado coming from Mexico.

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Speaker 5: He's not putting a twenty five percent tariff on a

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Speaker 5: component part under the hood they get shipped down from

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Speaker 5: Canada into Detroit to go into a car engine. This

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Speaker 5: is across the board. So is this bigger? Is this

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Speaker 5: really national security? Or are his critics right? Is this

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Speaker 5: going to trigger a massive recession?

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Speaker 6: Well, Steve, there's certainly no way it triggers a massive recession,

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Speaker 6: although that is very much the fear in Canada and

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Speaker 6: in Mexico. We forget that the trade between our countries

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Speaker 6: is not in any way equal. What I mean is

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Speaker 6: that if you look at all of America's exports, only

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Speaker 6: a few percentage points go to a country like Canada

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Speaker 6: or a country like Mexico, whereas almost all of Canada's exports.

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Speaker 6: Almost all of Mexico's exports come here to the United States.

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Speaker 6: And so if they really want to go toe to

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Speaker 6: tow with Trump on this one.

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Speaker 7: If the president of Mexico or.

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Speaker 6: The governor of Canada says, all right, let's do this

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Speaker 6: trade war thing, then what will happen here in the

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Speaker 6: United States will basically be like an economic speed bump,

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Speaker 6: but it will be a probably a full blown recession

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Speaker 6: for a country again like Canada or like Mexico. And

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Speaker 6: this is where Trump's approach to tariffs is so much

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Speaker 6: more like McKinley's than Hoover's. McKinley had an almost scientific approach.

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Speaker 6: It was a very strategic approach to conducting tariff policy,

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Speaker 6: whereas with Hoover it was a shotgun style, almost random

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Speaker 6: approach in the infamous Smooth Hawley terariff fact that infamously

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Speaker 6: made the Great Depression even worse than it already was

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Speaker 6: at the start of the nineteen thirties. So what would

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Speaker 6: the actual effect be. Let's remember that there are a

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Speaker 6: lot of elasticities to deal with. There are fluctuations in

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Speaker 6: the relative value of currencies, in other words, exchange rates.

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Speaker 6: But what I'm getting at here, Steve, is the fact

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Speaker 6: that if you put a tariff on a certain item,

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Speaker 6: the actual cost of that tariff is never passed entirely

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Speaker 6: on to the consumer. The producer always ends up eating

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Speaker 6: some of the cost of that tariff. We famously saw

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Speaker 6: this during the first Trump administration that Peter Navarro was

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Speaker 6: just talking about, wherein about eighty percent of the cost

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Speaker 6: of the tariffs we were imposed using on the Chinese

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Speaker 6: were simply eaten by the Chinese manufacturers. They couldn't afford

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Speaker 6: to pass the full freight onto the American consumer in

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Speaker 6: the form of higher prices, because the American consumer would

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Speaker 6: choose alternatives. You know, we didn't have to buy steal

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Speaker 6: from China, for example, we could buy it from a

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Speaker 6: domestic producer. We could buy it from another foreign producer,

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Speaker 6: like the ones in Sweden. And so in order to

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Speaker 6: remain competitive, it forced these Chinese exporters again to eat

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Speaker 6: most of the cost of that tariff. And we have

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Speaker 6: every expectation that that would happen today. And then one

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Speaker 6: further thing, Steve, if I may, you know, things like

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Speaker 6: a twenty five percent teriff right on Canada. That's perfectly

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Speaker 6: reasonable when you think about reciprocity, because they the Canadians

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Speaker 6: already impose about a twenty five percent tariff or the

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Speaker 6: equivalent thereof. Once you consider not just tariffs but also

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Speaker 6: non tariff barriers, think things like quotas that they have

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Speaker 6: on American dairy American automotive parts, and so that is

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Speaker 6: essentially an implicit penalty on Americans, whether it's an American farmer,

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Speaker 6: dairy farmer, or an American factory worker. And so what

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Speaker 6: the President is trying to do here is level the

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Speaker 6: playing field for the American worker, for American exporters so

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Speaker 6: that we can actually compete on the world stage and

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Speaker 6: make it a level playing field.

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Speaker 5: Jim Murcerts, I want to bring you in your thoughts

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Speaker 5: on President Trump's this. It's really a geoeconomic and geostrategic

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Speaker 5: reset on this, and particularly look at tariffs. He's got

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Speaker 5: a different economic model. He sees the United States as

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Speaker 5: a premium market. And if you don't if you can

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Speaker 5: get around terrorists by shipping your putting your manufacturing here

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Speaker 5: and hiring American citizens at good wages, or you can

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Speaker 5: pay a premium like you would buy a you'd get

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Speaker 5: a skybox for a sporting event or a front row

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Speaker 5: seat for a concert.

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Speaker 2: Sir, Yeah, I.

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Speaker 8: Agree with that, Steve, and I disagree with ej a

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Speaker 8: little bit on the difference between McKinley and Hoover. Whether

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Speaker 8: tariffs are a good idea or not depends on whether

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Speaker 8: your economy is in surplus or deficit. If you're running

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Speaker 8: a trade surplus, don't put tariffs on it. But if

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Speaker 8: you're running a trade deficit, absolutely do it and help

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Speaker 8: create exactly as you described, high paying jobs at home.

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Speaker 8: Say to the foreign trading partners, if you want to

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Speaker 8: sell the United States, that's fine, but you got to build.

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Speaker 7: It here, put your investment here. Right now.

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Speaker 8: Of course, the US is running a huge trade deficit,

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Speaker 8: so twer's make a lot of sense. And as far

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Speaker 8: as the reset is concerned, yes, it's a reset to

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Speaker 8: something that we had from seventeen ninety to nineteen sixty two,

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Speaker 8: which was the American system. Alexander Hamilton, Henry Clay, Abraham Lincoln, McKinley,

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Speaker 8: eisenhowerd they were all on board. So we're going back

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Speaker 8: to really what we had the most of American history.

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Speaker 8: But the problem with Hoover is not that taris's automatically bad.

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Speaker 8: It's that the US was a huge surplus country at

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Speaker 8: the time. So it depends on the initial conditions but

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Speaker 8: the initial conditions right now are right for terrors.

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Speaker 5: Describe this is so important the American system. There's a

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Speaker 5: document that is I think almost important as a constitution,

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Speaker 5: the Declaration of Independence by the first by the Secretary

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Speaker 5: Treasury Alexander Hamilton, who came out and put forward our

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Speaker 5: first Secretary treasurer put forward a report on manufactures right

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Speaker 5: has resonated down the ages to people like people like

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Speaker 5: Henry Clay, people like Abraham Lincoln.

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Speaker 2: The American system.

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Speaker 5: Can you just take a second to describe it, because

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Speaker 5: that's essentially how the country basically ran until globalization, until

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Speaker 5: the high priest of globalization on Wall Street and in places.

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Speaker 5: I went to the West point of capitalism, the West

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Speaker 5: point of globalism Harvard Business School, which all they preach

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Speaker 5: was globalization. But describe to people what the American system is?

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Speaker 8: Sure, well, first of all, it just started with Alexander Hamilton.

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Speaker 8: Alexander Hamilton and George Washington took are called a field

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Speaker 8: trip to pa Set, New Jersey, and they looked at

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Speaker 8: all these waterfalls which are there. It's a natural resource,

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Speaker 8: and they said, perfect, this is you know at the

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Speaker 8: time you used water uh to run to run the

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Speaker 8: mills to run the water wheels and so forth.

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Speaker 7: That's how you powered industry.

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Speaker 8: And they said, uh, this this would be perfect for

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Speaker 8: you know, textiles and so forth. But you had to

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Speaker 8: put up tariffs, uh, to protect the US industry. We

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Speaker 8: were kind of you know, in our infancy at the time,

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Speaker 8: and that was now there was there was an opposition

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Speaker 8: party that was Jefferson Madison to Monroe, uh, Monroe, Jefferson

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Speaker 8: to Monroe in particular, they were the they were the agrarians.

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Speaker 8: They represent the southern interests. Actually this is one of

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Speaker 8: the not the main one, but this is one of

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Speaker 8: the things that led up to the Civil War, which

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Speaker 8: was the South opposed tariffs. They needed imports in the

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Speaker 8: North favored tarriffs because they wanted to uh uh you know,

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Speaker 8: encourage industry, and they and they did. But that's that system,

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Speaker 8: you know. Basically, the the the early Republican Party, which

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Speaker 8: was Thomas she was pushed aside.

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Speaker 7: Again.

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Speaker 8: Henry Clay was the champion. John Quincy Adams was another one.

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Speaker 8: This is threade round through all the way through American

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Speaker 8: history with very few exceptions, and the real training point

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Speaker 8: was nineteen sixty two. That was the Trade Act of

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Speaker 8: Trade Reformact of nineteen sixty two, when we lowered our

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Speaker 8: tariffs unilaterally, and then we went through multiple rounds of

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Speaker 8: the Kennedy round, the Tokyo round, and so forth. But

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Speaker 8: the US today acts as the consumer of last resort.

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Speaker 8: We sit there to the world and say, hey, sell

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Speaker 8: us all your stuff cheap labor. By the way, Ricardo

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Speaker 8: himself have hitted, he was wrong about the theory of

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Speaker 8: pre trade comparative advantage. Comparative advantage works in a classroom,

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Speaker 8: but in the real world the factor is the production.

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Speaker 8: The inputs are portable, so you may start out with

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Speaker 8: some comparative advantage. But if capitol can go where it once,

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Speaker 8: and it does, and if cheap labor is waiting for

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Speaker 8: your overseas and it is, then the comparative advantage comes

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Speaker 8: out of thin air. Look at a Taiwan semiconductor. What

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Speaker 8: was Taiwan's comparative advantage the semiconductors.

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Speaker 7: And then he's seventy eight zero.

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Speaker 8: They had comparative advantage in tuna fishing and a couple

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Speaker 8: other things.

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Speaker 7: They created it out of whole cloth.

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Speaker 8: They basically got the capital, got the educational system that

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Speaker 8: if you wanted to leave Thailand Semiconductor and go start

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Speaker 8: your own company. They were like, that's fine, let's kind

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Speaker 8: of create that ecosystem. So the point being comparative advantage,

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Speaker 8: the theory of free trade falls down because the inputs

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Speaker 8: are portable. Once you realize that, you have to say, okay,

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Speaker 8: what can we do to prevent having all of our

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Speaker 8: industry over intellectual property and jobs stripped away?

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Speaker 7: And the answers tariffs.

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Speaker 5: And you mentioned I think in the month of December

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Speaker 5: it was a it was a record trade deficit with China.

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Speaker 5: Let me play the Kaitlin Collins. I'm going to get

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Speaker 5: EJ in here before you has to bounce and come

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Speaker 5: back to you. Jim, Let's play the Kate. Let's play

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Speaker 5: the Kaitlin Collins quickly and get EJ's response.

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Speaker 3: In this you just talked about how important the work

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Speaker 3: that Elon Musk is doing is. If you pass a

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Speaker 3: continuing resolution, won't that just refund all the programs that

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Speaker 3: he says he's cutting full of wayte frauden abuse.

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Speaker 2: No, Look, you can.

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Speaker 9: That's why I say you add anomalies to a CR.

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Speaker 9: You can increase in spinning, you can decrease in spinning.

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Speaker 9: You can add language that says, for example, the dramatic

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Speaker 9: changes that have been made to USA I D would

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Speaker 9: be reflected in the ongoing spending. It would be a

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Speaker 9: clean CR mostly, I think, but with some of those

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Speaker 9: changes to adapt to the new realities here. And the

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Speaker 9: new reality is less government, more efficiency, better return for

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Speaker 9: the taxpayers, and I think that's something that everybody should welcome.

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Speaker 5: What he said earlier also was about the was about

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Speaker 5: the Democrats are trying to put restrictions on President Trump

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Speaker 5: on all of this.

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Speaker 2: Maybe when play the whole thing for Jim, if we

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Speaker 2: put it together.

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Speaker 5: EJ Right, there, clean CR but anomalies, what do you

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Speaker 5: anticipate What do you anticipate happening here? Because as you know,

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Speaker 5: this audience doesn't like kind of omnibus crs. But they're

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Speaker 5: they're talking about anomalies where you're actually going to allow

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Speaker 5: the dough cuts to go through, Sir.

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Speaker 6: And Steve, I think that makes a lot of sense. Right,

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Speaker 6: You should be counting all of these savings when you're

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Speaker 6: trying to compute, okay, what is the actual cost of

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Speaker 6: this legislation. They should be counting things like future revenue

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Speaker 6: from tariffs, for example, and all of these things can

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Speaker 6: be used as quote unquote pay fors to help cancel

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Speaker 6: some of this opposed costs, according to the CBO, from

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Speaker 6: extending the Trump era tax cuts, the Trump tax reform.

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Speaker 6: So I think it's a very good thing that they're

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Speaker 6: going to help incorporate some of these wins in terms

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Speaker 6: in terms of cutting government, that they're going to incorporate

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Speaker 6: some of that into the CR and say, okay, this

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Speaker 6: is the new baseline, right, we are cutting out all

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Speaker 6: of these instances of abuse, of fraud, of waste, something which,

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Speaker 6: by the way, both parties used to preach. Let's not

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Speaker 6: forget it was Bill Clinton of all people who got

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Speaker 6: up to the microphone and said the era of big

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Speaker 6: government is over and was constantly railing again against abuse, fraud,

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Speaker 6: and waste within the federal budget. Now, whether or not

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Speaker 6: he was true to that, that's a whole nother story.

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Speaker 6: I know, I know Bill Clinton lying. It's a shocker.

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Speaker 6: But whatever the case, at least the Democrats used to

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Speaker 6: pay lip service to this. Today, it is shocking how

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Speaker 6: many of the people in Congress get up to the

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Speaker 6: microphone and rail against all of these cost savings, all

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Speaker 6: of these ways in which we are flawing back American

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Speaker 6: Americans tax dollars.

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Speaker 5: EJ, what's your social media? You're coming a little hot

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Speaker 5: on Twitter. I think it's fantastic. You had great information,

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Speaker 5: great charts, great analysis where they go.

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Speaker 6: Best place to find me is right there on Twitter

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Speaker 6: or x you know whatever we call it these days.

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Speaker 6: The handle is at real EJ and.

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Speaker 5: Tony EJ love you, brother.

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Speaker 2: I hope we got either.

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Speaker 5: EJ is going to go in and we'll lose him

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Speaker 5: as an analyst and a contributor or will be the

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Speaker 5: smartest guy out here talking about the details of the

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Speaker 5: budget and inflation.

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Speaker 2: Jim murcerts next your whole Stephen k.

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Speaker 5: Back, okay with everything else out there. And I think

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Speaker 5: we're getting some clarity now on the cr which I'll

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Speaker 5: be able to go into it in a little while,

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Speaker 5: and also the the taxes part in other parts of

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Speaker 5: this reconciliation bill. And this is quite important because this

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Speaker 5: is going to lay the foundational element for the Trump

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Speaker 5: for the Trump presidency. And I remember President Trump's always

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Speaker 5: about energy and getting a foundation, a strong foundation for

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Speaker 5: economic growth and opportunity. Jim Urkin is one thing that

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Speaker 5: stands in the way. And you know, we've had the

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Speaker 5: Birch Gold guys in here. You know Philip Patrick very well.

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Speaker 5: I thinks the world ofview. Reach your newsletter Strategic Intelligence,

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Speaker 5: which you can get by going to Ricords war Room

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Speaker 5: dot com. You can get a strategic intelligence, but you

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Speaker 5: also see all the specialty newsletters Jim puts out, and

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Speaker 5: you get this amazing book about artificial intelligence and capital markets,

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Speaker 5: which I will tell people will come as a shock

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Speaker 5: to you but should be read.

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Speaker 2: Jim does it in for free. Jim.

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Speaker 5: There's all this situation where the Bank of England is

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Speaker 5: delaying delivery of physical gold for certain transactions. There's also

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Speaker 5: all this discussion I think of twenty metric tons or

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Speaker 5: something that has been shipped from Bank of England and

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Speaker 5: other money center banks in London to New York as

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Speaker 5: guys are arbitraging. I guess the difference in price in

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Speaker 5: physical gold. And then President Trump and now he's been

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Speaker 5: pretty adamant about it that he wants to go to

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Speaker 5: Fort Knox and actually wants to see and do a

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Speaker 5: physical inspection and hear from auditors about gold. And now

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Speaker 5: you say he's going to take elon Musk. Now Scott Bessant,

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Speaker 5: who the show knows very well former major contributor. He says, Hey, look,

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Speaker 5: they do an audit every year President Trump. We want

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Speaker 5: President Trump to go, and they're arranging the visit. How

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Speaker 5: seriously should this audience take because we know central banks

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Speaker 5: are still buying at record rates?

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Speaker 2: What is wrong?

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Speaker 5: What is up with like physical gold between the Bank

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Speaker 5: of England, New York, Fort Knox, all of it, sir.

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Speaker 7: That's a great question.

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Speaker 8: See, but what we've seen all of this before, from

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Speaker 8: the panic of Black Friday eighteen sixty nine and what

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Speaker 8: they used to call gold points in the early twentieth century.

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Speaker 8: But yeah, first of all, I applaud the President and

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Speaker 8: Elon Musk if they're going to Fort Knox, I think

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Speaker 8: that's great.

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Speaker 7: I think it'll be I call the mother of both

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Speaker 7: photo ops.

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Speaker 8: But if you've ever lifted a four hundred hous par

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Speaker 8: they weigh twenty seven pounds.

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Speaker 7: I've done it. I've been involved.

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Speaker 8: But it's like a freeway, it's kind of it's a

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Speaker 8: lot heavier than you think. But they'll go in, they'll

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Speaker 8: look around. By the way, the gold is certainly there.

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Speaker 8: I've said that for over ten years, probably twenty years.

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Speaker 7: But I said in my book, The New Case for Gold.

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Speaker 7: The gold is there. Just think about it.

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Speaker 8: Would the Treasury let the President go to Fort Knox

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Speaker 8: if the gold wasn't there, of course they wouldn't.

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Speaker 7: So they're going to go there. The gold is there.

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Speaker 7: I think it'll be great for the American people.

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Speaker 2: Hang on, but hang on, but hang on, Oh, but

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Speaker 2: hang on, hang on.

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Speaker 5: I know when I was a small kid, my dad

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Speaker 5: would tell me when he was a child back in

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Speaker 5: the in the twenties and thirties, that they would look

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Speaker 5: at a map and the map would have pink or

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Speaker 5: where the British Empire was, and he said that little country,

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Speaker 5: that little island looked like can control of the world

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Speaker 5: because it looked like half of the map was pink.

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Speaker 5: He also said, the standard back in those days was

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Speaker 5: the Bank of England.

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Speaker 2: So I hear you that the gold is there.

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Speaker 5: But how do we have a situation where something is

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Speaker 5: supposed to be so solid as the Bank of England.

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Speaker 5: You've now had and it's been verified by the Bank

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Speaker 5: of England, some problems with actually completing trades. They need

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Speaker 5: delay because they can't get the physical, the physical delivery

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Speaker 5: of gold.

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Speaker 7: Sir, well, here's the thing.

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Speaker 8: Blackmasters who ran global commodities for JP Morgan for a

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Speaker 8: very long period of time.

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Speaker 7: She knows more about this than anyone.

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Speaker 8: She's left the bank and onto other things. She had

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Speaker 8: a quote, just a couple of words, and I found

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Speaker 8: it on the internet. I verified it, but then disappeared,

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Speaker 8: it got scrugged. But she said gold never settles. And

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Speaker 8: what that means is that the amount of paper gold transactions,

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Speaker 8: gold futures go forwards, annallocated gold is leasing gold, etc.

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Speaker 8: The amount of paper transactions is easily one hundred times

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Speaker 8: probably more, no one knows the exact number, but easily

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Speaker 8: one hundred times the amount of physical gold.

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Speaker 7: Now, what she meant was as long as.

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Speaker 8: All the lungs and the shorts and the lessies and

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Speaker 8: the lesser wors and the paper gold holders and everything

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Speaker 8: kind of roll over their contracts, some get in, some

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Speaker 8: get it's all good. But if you actually had a

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Speaker 8: situation where the holders of those who were long the

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Speaker 8: paper gold, so you know, I think I'll take physical delivery.

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Speaker 8: Call the the CMEME, or call you know, the comics,

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Speaker 8: or or call the Treasury for that matter, call anybody

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Speaker 8: saying and deliver the goal.

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Speaker 7: Please.

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Speaker 8: You couldn't do it, It would be physically impossible. So

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Speaker 8: what would happen. Then you'd have the greatest short squeeze

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Speaker 8: in history. You'd have a mess gramble for physical gold.

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Speaker 8: The price would double, probably every night, and then kind

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Speaker 8: of keep going from there. You'd have bankruptcies as various

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Speaker 8: dealers and counterparties failed.

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Speaker 7: Now that hasn't happened yet on that scale.

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Speaker 8: And again eighteen sixty nine was the last time something

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Speaker 8: like it happened, but the market couldn't stand up to it.

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Speaker 8: Now we're starting to see signs of that. We're starting

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Speaker 8: to see cracks in the structure. And the question I

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Speaker 8: have for the President Elon Musk go to Fort Knox, Okay,

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Speaker 8: the goals there, that's fine. Ask the Treasury, and they

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Speaker 8: probably don't want to ask. This is that gold? Least

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Speaker 8: is that gold? Least to JP Morgan Goldman, Sachs City.

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Speaker 5: And hold it, hold it full stop, full stop, full stop.

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Speaker 5: If it's in Fort Knox, it's supposed to be the

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Speaker 5: gold of the United States of America, and the United

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Speaker 5: States Treasury is it. And that's why US troops it's

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Speaker 5: in actually an army base, and of course the bases

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Speaker 5: will suffer from the gold depository. But I would assume,

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Speaker 5: and I think people watching this show would assume, that

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Speaker 5: is the goal of the United States of America.

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Speaker 2: Is it not, sir? What do you mean? Least?

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Speaker 7: Well, it is.

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Speaker 8: But if I lease my house to you, you can

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Speaker 8: move in. You're perfectly legal. But I still own the house.

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Speaker 8: Now people don't understand goal leasing. They hear the gold

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Speaker 8: is lease, they assume that like JP Morton backs up

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Speaker 8: a truck and takes the goal. No, that's not what

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Speaker 8: that's not what happened. The gold is there, the Treasury

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Speaker 8: owns it. You want to be clear about that. The

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Speaker 8: gold is there and the Treasury owns it, but they

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Speaker 8: can lease it out.

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Speaker 7: That's a paper transaction. And here's the key.

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Speaker 8: When you're the less see you're again JP Morton Gold

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Speaker 8: and Sacks any of the big banks, you.

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Speaker 7: Have a right of re hypothlication.

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Speaker 8: That means you can lease it to somebody else, or

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Speaker 8: you can sell it to somebody else on what's called

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Speaker 8: an unallocated basis, which I say, yeah, see, you own

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Speaker 8: the goal, but not really. There are no bars with

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Speaker 8: serial numbers with your name on it. But it's a

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Speaker 8: paper goal transaction. But that's my point. It's a long

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Speaker 8: chain of paper transactions. Everybody thinks every less see, every

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Speaker 8: buyer of an allocated goal thinks they own gold, and

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Speaker 8: they do have price exposure, but they don't have the gold.

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Speaker 7: The golds in the vault where it belongs.

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Speaker 8: But you can actually make money leasing you know, how

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Speaker 8: could you blame the treasury for you know, picking up

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Speaker 8: a percentage point or two on the goal by leasing that.

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Speaker 8: But the bigger point, the one you refer to, is

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Speaker 8: that the chain of paper gold is one hundred times

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Speaker 8: the physical gold. You couldn't possibly settle all those transactions. Now,

438
00:22:16,200 --> 00:22:18,040
Speaker 8: I don't, by the way, I understand goal at leasting

439
00:22:18,080 --> 00:22:20,560
Speaker 8: I just described it. I don't know for a fact

440
00:22:21,040 --> 00:22:23,800
Speaker 8: that the treasure gold is least I suspect it is.

441
00:22:23,920 --> 00:22:26,159
Speaker 8: I don't know that. To me, it's a question, but

442
00:22:26,320 --> 00:22:28,560
Speaker 8: it's a question that the treasure may not want to

443
00:22:29,160 --> 00:22:31,680
Speaker 8: answer it because the many you realize that that's how

444
00:22:31,720 --> 00:22:32,560
Speaker 8: much that's supporting.

445
00:22:33,400 --> 00:22:38,040
Speaker 5: Isn't what you just described with hypothecation, where essentially you're

446
00:22:38,800 --> 00:22:42,199
Speaker 5: breaking off from the physical reality of the ownership, the

447
00:22:42,200 --> 00:22:46,679
Speaker 5: ship of it ways to monetize certain paper transactions, right

448
00:22:46,720 --> 00:22:50,399
Speaker 5: you hypothecated isn't what you just describe in that chain

449
00:22:50,600 --> 00:22:53,600
Speaker 5: of custody, chain of events, who ever own's leasing all

450
00:22:53,640 --> 00:22:57,760
Speaker 5: of that, much like fractional banking, which people say, heck

451
00:22:57,760 --> 00:23:01,920
Speaker 5: can this happen, is wrought with potential risk that if

452
00:23:01,920 --> 00:23:06,560
Speaker 5: the music ever stops right, the people in the hypothecation chain,

453
00:23:07,200 --> 00:23:12,879
Speaker 5: just like in the fractional banking situation, like at Silicon

454
00:23:13,040 --> 00:23:16,919
Speaker 5: Valley Bank, that they end up they end up holding it,

455
00:23:16,960 --> 00:23:20,520
Speaker 5: particularly like depositors or people. There's some person that gets

456
00:23:20,560 --> 00:23:24,520
Speaker 5: stuck if the music stopped, sir, sure.

457
00:23:24,320 --> 00:23:27,679
Speaker 8: I mean a Silicon Valley Bank had about three percent

458
00:23:27,680 --> 00:23:30,320
Speaker 8: of their deposits for FTIC ensured. The rest of them

459
00:23:30,320 --> 00:23:34,240
Speaker 8: were completely unassured. So you're basically, as a depositor, you're

460
00:23:34,280 --> 00:23:39,159
Speaker 8: an unassured creditor of a.

461
00:23:38,160 --> 00:23:39,160
Speaker 7: In solvent institution.

462
00:23:39,600 --> 00:23:42,280
Speaker 8: So that's exactly right, except fractional banking, and they at

463
00:23:42,320 --> 00:23:46,040
Speaker 8: least require maybe five up to ten percent capital in

464
00:23:46,080 --> 00:23:48,680
Speaker 8: different flavors, and the rest of the levers we're talking

465
00:23:48,680 --> 00:23:52,080
Speaker 8: about a market with maybe one percent probably less. In

466
00:23:52,119 --> 00:23:55,159
Speaker 8: other words, leverage ninety nine to one. And that is

467
00:23:55,200 --> 00:23:58,440
Speaker 8: the issue now even in the just take the futures exchanges,

468
00:23:58,480 --> 00:24:01,320
Speaker 8: the Comax School futures contract they have a vault and

469
00:24:01,320 --> 00:24:03,320
Speaker 8: there's physical gold in it. And if I'm along a

470
00:24:03,320 --> 00:24:06,720
Speaker 8: futures contract, I'm allowed to put in notices. I'd like

471
00:24:06,760 --> 00:24:10,239
Speaker 8: to take physical delivery. But enough of a geek. I've

472
00:24:10,240 --> 00:24:12,200
Speaker 8: read the rule books of all these exchanges. They all

473
00:24:12,200 --> 00:24:13,960
Speaker 8: have a rule in the rule book that says we

474
00:24:14,000 --> 00:24:16,679
Speaker 8: can change the rules, and they tell you we are

475
00:24:16,720 --> 00:24:18,520
Speaker 8: not a source of supply. So they just let you

476
00:24:18,560 --> 00:24:21,639
Speaker 8: take physical deliveries just a little bit to keep everything honest.

477
00:24:21,960 --> 00:24:24,400
Speaker 7: But if there were ever a massive wave of notices

478
00:24:24,440 --> 00:24:25,000
Speaker 7: he I'd like to.

479
00:24:24,960 --> 00:24:28,000
Speaker 8: Take physical delivery, they would say trade for liquidation. All

480
00:24:28,040 --> 00:24:30,040
Speaker 8: that you're not getting that gold. You're not getting that

481
00:24:30,040 --> 00:24:32,919
Speaker 8: physical gold. There is not enough. That's just a futures market.

482
00:24:32,920 --> 00:24:37,520
Speaker 8: Then again, there's unallocated gold bank gold gold leasing this

483
00:24:38,160 --> 00:24:42,080
Speaker 8: huge market. And this is what life masters mat which

484
00:24:42,080 --> 00:24:43,359
Speaker 8: you said gold never settles.

485
00:24:45,160 --> 00:24:46,960
Speaker 2: Why do we have we got a couple of minutes left.

486
00:24:46,960 --> 00:24:52,320
Speaker 5: Why do we have a barbaric relic of our savage

487
00:24:52,400 --> 00:24:55,520
Speaker 5: past in a day of artificial intelligence. You just wrote

488
00:24:55,520 --> 00:24:58,440
Speaker 5: a book about artificial intelligence and markets.

489
00:24:58,040 --> 00:24:59,679
Speaker 2: That everybody should read. In fact, you could go to

490
00:25:00,280 --> 00:25:02,199
Speaker 2: rickordswarroom dot com. You get it.

491
00:25:02,280 --> 00:25:05,240
Speaker 5: He throws it in as a free a free item

492
00:25:05,280 --> 00:25:08,600
Speaker 5: if he takes strategic intelligence. But you've got artificial intelligence.

493
00:25:08,680 --> 00:25:13,080
Speaker 5: That's changing really the nature of capital markets because the

494
00:25:13,080 --> 00:25:16,680
Speaker 5: efficiency and effectiveness of artificial intelligence. And you lay out

495
00:25:16,680 --> 00:25:20,520
Speaker 5: a very couple of scary scenarios. But why is gold

496
00:25:20,880 --> 00:25:24,520
Speaker 5: this relic of five thousand years? Why is gold still

497
00:25:24,560 --> 00:25:25,840
Speaker 5: important and still relevant?

498
00:25:26,720 --> 00:25:29,159
Speaker 8: Well, I think my experience as a kid maybe similar

499
00:25:29,200 --> 00:25:31,359
Speaker 8: to yours, because at the kitchen table, my father used

500
00:25:31,359 --> 00:25:33,960
Speaker 8: to pull the two twenty dollars bills out as well,

501
00:25:34,000 --> 00:25:35,720
Speaker 8: and he slammed them on the table and said, look

502
00:25:35,720 --> 00:25:38,240
Speaker 8: at this. And one of them said, Federal Reserve note,

503
00:25:38,720 --> 00:25:41,440
Speaker 8: which is a liability. That's what we call money, is

504
00:25:41,480 --> 00:25:43,200
Speaker 8: actually a liability of the Federal Reserve.

505
00:25:43,240 --> 00:25:43,959
Speaker 7: It's not an asset.

506
00:25:44,600 --> 00:25:47,040
Speaker 8: But the other one said, silver certificate. Used to carry

507
00:25:47,080 --> 00:25:49,280
Speaker 8: it around and he would say, this isn't back. But

508
00:25:49,480 --> 00:25:51,639
Speaker 8: I think my father was in the first print. He

509
00:25:51,640 --> 00:25:54,000
Speaker 8: was actually in the occupation of Chinese foot World War two.

510
00:25:54,000 --> 00:25:56,040
Speaker 8: But he was in the occupation of China and they

511
00:25:56,040 --> 00:25:59,160
Speaker 8: had a hyperinflation there that was worse than Winmark.

512
00:25:59,280 --> 00:26:02,360
Speaker 7: Again, says Marine Buddies. They would take a.

513
00:26:02,280 --> 00:26:05,600
Speaker 8: Wheelbarrow full of national Chinese money to get a case

514
00:26:05,600 --> 00:26:08,040
Speaker 8: of beer. So I had this from like a very

515
00:26:08,040 --> 00:26:11,560
Speaker 8: early age, the difference between solid money and paper money

516
00:26:11,560 --> 00:26:14,200
Speaker 8: and leverage. Again, the level system works as long as

517
00:26:14,200 --> 00:26:16,640
Speaker 8: no one challenges it, as long as no one questions it.

518
00:26:16,880 --> 00:26:19,679
Speaker 8: But the minue you do, it collapses very quickly. And

519
00:26:19,680 --> 00:26:20,919
Speaker 8: that's where gold stands up.

520
00:26:20,960 --> 00:26:23,800
Speaker 7: And I mean gold with skyrocket and these scenarios.

521
00:26:24,080 --> 00:26:26,159
Speaker 8: The problem is even you referred to it with the

522
00:26:26,160 --> 00:26:28,119
Speaker 8: Bank of England, and I mean it used to be

523
00:26:28,280 --> 00:26:30,040
Speaker 8: when they ran the gold corner, when the corner of

524
00:26:30,040 --> 00:26:32,640
Speaker 8: the gold market. This is a Jay Gould and Big

525
00:26:32,720 --> 00:26:34,720
Speaker 8: Jump Fisk in eighteen sixty nine, when the corner of

526
00:26:34,760 --> 00:26:35,480
Speaker 8: the gold market.

527
00:26:36,800 --> 00:26:38,240
Speaker 2: I want, I want to, I want to, I want

528
00:26:38,280 --> 00:26:39,960
Speaker 2: I want you to. I want you to tell that story.

529
00:26:40,000 --> 00:26:44,240
Speaker 5: Can short commercial break Jim rickards, President Trump and Elon

530
00:26:44,440 --> 00:26:46,080
Speaker 5: going to go up to Fort Knox.

531
00:26:47,480 --> 00:26:50,080
Speaker 2: And check things out. Let's say that, check things out,

532
00:26:50,080 --> 00:26:50,480
Speaker 2: make sure.

533
00:26:50,400 --> 00:26:54,119
Speaker 5: Everything's on the up and up with our gold short

534
00:26:54,160 --> 00:27:01,080
Speaker 5: break records on the other side, use your who Stephen

535
00:27:01,200 --> 00:27:07,960
Speaker 5: k Back, you know, one of the powers of the

536
00:27:07,960 --> 00:27:13,320
Speaker 5: records book. It talks about artificial intelligence and capital markets.

537
00:27:13,440 --> 00:27:15,960
Speaker 5: Sweiker and David I think It's David Sweiker Arizona just

538
00:27:16,000 --> 00:27:21,800
Speaker 5: put in a new bill talking about artificial intelligence and prescriptions.

539
00:27:21,800 --> 00:27:24,280
Speaker 2: I'm gonna get this, but Ais, this is why we

540
00:27:24,320 --> 00:27:24,920
Speaker 2: have Joe.

541
00:27:24,720 --> 00:27:30,359
Speaker 5: Allen artificial intelligence and with Elon I mean, their theory

542
00:27:30,400 --> 00:27:33,920
Speaker 5: of the case over Doge, I think is to replace

543
00:27:34,000 --> 00:27:36,720
Speaker 5: Part of it is to replace fifty percent of the

544
00:27:36,720 --> 00:27:39,520
Speaker 5: federal workers with artificial intelligence.

545
00:27:39,920 --> 00:27:42,040
Speaker 2: Right. This is going to cut through, but this is

546
00:27:42,080 --> 00:27:45,879
Speaker 2: going to be every This is going to be every.

547
00:27:45,640 --> 00:27:50,560
Speaker 5: Industry, particularly folks under thirty years old. Those first jobs

548
00:27:50,560 --> 00:27:53,119
Speaker 5: you get in your twenties. A lot of those lower

549
00:27:53,200 --> 00:27:57,560
Speaker 5: level entry level jobs in management, administration, and technology. I'm

550
00:27:57,600 --> 00:28:00,720
Speaker 5: not talking about blue collar jobs and factories driving you know,

551
00:28:00,800 --> 00:28:06,639
Speaker 5: teamsters jobs driving trucks, are driving ubers or taxis, are

552
00:28:06,760 --> 00:28:13,119
Speaker 5: factories automation or the automation around our ports. A the

553
00:28:13,119 --> 00:28:16,840
Speaker 5: the first the syth through grass of artificial intelligence will

554
00:28:16,840 --> 00:28:23,920
Speaker 5: initially come in. It's big in the efficiency moves through administrative, managerial,

555
00:28:24,080 --> 00:28:29,480
Speaker 5: and stem or technology jobs at entry levels and there

556
00:28:29,560 --> 00:28:31,679
Speaker 5: and above, and then we'll start eating all the way up.

557
00:28:33,080 --> 00:28:33,199
Speaker 9: Uh.

558
00:28:34,080 --> 00:28:36,200
Speaker 5: But Jim people, the gold One of the things about

559
00:28:36,240 --> 00:28:39,920
Speaker 5: gold people have tried to corner the gold market before right.

560
00:28:39,920 --> 00:28:43,160
Speaker 5: I mean the Hunt brothers tried to cut and I

561
00:28:43,160 --> 00:28:46,680
Speaker 5: think they did for a minute control the silver market

562
00:28:46,720 --> 00:28:48,640
Speaker 5: back in the eighties. In fact, one of the Hunts

563
00:28:48,680 --> 00:28:51,440
Speaker 5: is the Uh is the grandfather of the of the

564
00:28:51,480 --> 00:28:54,920
Speaker 5: son that owns the owns the Kansas City Chiefs, who

565
00:28:55,080 --> 00:28:57,160
Speaker 5: used to work for me at Goldman Sachs in l

566
00:28:57,200 --> 00:28:57,760
Speaker 5: A for a while.

567
00:28:58,480 --> 00:29:00,920
Speaker 2: Uh in his training, he's like.

568
00:29:00,920 --> 00:29:06,280
Speaker 5: Boil boil and journalism, Hunt in finance. But people have

569
00:29:06,360 --> 00:29:10,400
Speaker 5: tried to corner the gold market. How hard is that, sir?

570
00:29:10,560 --> 00:29:12,840
Speaker 5: And give me the best example. You've got to somebody

571
00:29:12,840 --> 00:29:15,440
Speaker 5: that tried to do it.

572
00:29:15,440 --> 00:29:16,040
Speaker 7: It's very hard.

573
00:29:16,080 --> 00:29:19,920
Speaker 8: But the best example was September eighteen sixty nine. This

574
00:29:20,000 --> 00:29:22,440
Speaker 8: is two of the so called robber barns, Jay Gold

575
00:29:22,520 --> 00:29:25,280
Speaker 8: and Big Jim Fisk, and they decided to corner the market.

576
00:29:25,360 --> 00:29:27,080
Speaker 7: Now there was a lot of gold. They were in

577
00:29:27,080 --> 00:29:27,480
Speaker 7: New York.

578
00:29:27,840 --> 00:29:32,080
Speaker 8: They did basically corner the physical gold supply in New York.

579
00:29:32,120 --> 00:29:34,040
Speaker 7: But there were two sources of goal that they had

580
00:29:34,040 --> 00:29:34,600
Speaker 7: to worry about.

581
00:29:34,880 --> 00:29:36,920
Speaker 8: One was London, but they weren't really worried about that

582
00:29:36,920 --> 00:29:39,000
Speaker 8: because you had to ship it to the physically ship

583
00:29:39,080 --> 00:29:41,480
Speaker 8: it to the Nited States. That would take weeks or longer,

584
00:29:41,520 --> 00:29:43,240
Speaker 8: and they knew that that would not come in time

585
00:29:43,960 --> 00:29:46,040
Speaker 8: to break the corner. The other source of goal was

586
00:29:46,040 --> 00:29:48,160
Speaker 8: the Nasais Treasury. The US Treasury had gold and they

587
00:29:48,200 --> 00:29:50,160
Speaker 8: had a station in New York. So what they did

588
00:29:50,160 --> 00:29:53,520
Speaker 8: They had a middleman who was President Grant's son in law,

589
00:29:53,760 --> 00:29:56,120
Speaker 8: and he loved his daughter, so they got an audience

590
00:29:56,160 --> 00:29:59,280
Speaker 8: for President Grant. They convinced the President that high commodity

591
00:29:59,280 --> 00:30:02,720
Speaker 8: prices were good farmers. So Grant kind of naively said, yeah,

592
00:30:02,720 --> 00:30:05,640
Speaker 8: you're right. He worded the Treasury to stop selling gold.

593
00:30:05,880 --> 00:30:07,760
Speaker 8: That was the green light, because once they knew the

594
00:30:07,760 --> 00:30:11,640
Speaker 8: Treasury goal was off limits, the London gold couldn't get

595
00:30:11,640 --> 00:30:14,000
Speaker 8: here in time. They had cornered the gold market in

596
00:30:14,040 --> 00:30:16,600
Speaker 8: New York. So they launched the squeeze, which basically means

597
00:30:16,640 --> 00:30:19,080
Speaker 8: you sold gold on paper, you don't have it, so

598
00:30:19,120 --> 00:30:21,360
Speaker 8: you're sure you go to buy it, but there isn't

599
00:30:21,360 --> 00:30:23,720
Speaker 8: any because they've cornered the market. So this went on

600
00:30:23,800 --> 00:30:27,080
Speaker 8: for a couple of days and the price of gold skyrocketed. Finally,

601
00:30:27,760 --> 00:30:31,520
Speaker 8: Sam Brown, Brown Brothers Harreman, the original Brown Brothers Harraman

602
00:30:31,720 --> 00:30:33,320
Speaker 8: called the Treasure, said you got to do something.

603
00:30:33,320 --> 00:30:35,000
Speaker 7: This is out of control. People are going broken.

604
00:30:35,640 --> 00:30:37,680
Speaker 8: They called the president and then he said, told the

605
00:30:37,720 --> 00:30:41,239
Speaker 8: Treasury secretary sell the gold. That broke the corner. But

606
00:30:41,360 --> 00:30:43,160
Speaker 8: the point is you really do have to control it

607
00:30:43,200 --> 00:30:45,680
Speaker 8: all physically. The problem with the Hunt brothers they pretty

608
00:30:45,720 --> 00:30:48,120
Speaker 8: much cornered the silver market, but they were relying on

609
00:30:48,160 --> 00:30:51,360
Speaker 8: the futures exchange, and the futures exchanged at the time,

610
00:30:51,880 --> 00:30:55,080
Speaker 8: as I said, changed the rules and said no physical

611
00:30:55,120 --> 00:30:57,680
Speaker 8: delivery in the market. You can only trade for liquidation only.

612
00:30:57,720 --> 00:31:00,360
Speaker 8: So it's hard to do. But here's the point. You

613
00:31:00,400 --> 00:31:03,400
Speaker 8: don't need a good old fashioned corner. You can just

614
00:31:03,440 --> 00:31:07,800
Speaker 8: have a situation where who's buying goal with Russia, China, Iran, Turkey,

615
00:31:07,840 --> 00:31:10,360
Speaker 8: even our friends like Japan, Philippines back to it. They're

616
00:31:10,360 --> 00:31:12,480
Speaker 8: buying all the gold. There's not that much around. It

617
00:31:12,480 --> 00:31:14,640
Speaker 8: wouldn't take much to be cause of buying pack.

618
00:31:16,960 --> 00:31:17,120
Speaker 2: Well.

619
00:31:17,160 --> 00:31:19,080
Speaker 5: This is one of the reasons, the conversion factors of

620
00:31:19,080 --> 00:31:22,560
Speaker 5: why gold is hidden all time highs every five days.

621
00:31:22,880 --> 00:31:26,200
Speaker 5: I might want to also mention Jay Gould. How did

622
00:31:26,240 --> 00:31:28,200
Speaker 5: Jay Gould come up with the idea he and Big.

623
00:31:28,120 --> 00:31:30,240
Speaker 2: Jim Fisk to corner the gold market?

624
00:31:30,280 --> 00:31:33,440
Speaker 5: You know it was is financing is actually working as

625
00:31:33,440 --> 00:31:38,320
Speaker 5: a financier for the massive budget deficits that were run

626
00:31:38,720 --> 00:31:43,160
Speaker 5: by President Lincoln and Sam and Chase and others his

627
00:31:43,240 --> 00:31:46,200
Speaker 5: Secretary of the Treasury to finance.

628
00:31:45,840 --> 00:31:46,520
Speaker 2: The Civil War.

629
00:31:46,880 --> 00:31:48,640
Speaker 5: That's where Gould got into the center of a bunch

630
00:31:48,680 --> 00:31:51,920
Speaker 5: of scandals with Jay Gould and others of these New

631
00:31:51,960 --> 00:31:54,640
Speaker 5: York City financiers came down there and saw that, you know,

632
00:31:54,680 --> 00:31:57,920
Speaker 5: we were thrown all in to win militarily, had a

633
00:31:57,960 --> 00:32:00,280
Speaker 5: massive defense budget which we had never had before. Or

634
00:32:00,360 --> 00:32:03,480
Speaker 5: and the corruption that came in there, and particularly guys

635
00:32:03,480 --> 00:32:08,360
Speaker 5: that he conceived of these ideas by seeing how Rickety

636
00:32:08,840 --> 00:32:11,040
Speaker 5: the system was down to Washington, d C. As President

637
00:32:11,040 --> 00:32:14,600
Speaker 5: Lincoln and Chase and Uh and Uh and others on

638
00:32:14,640 --> 00:32:18,680
Speaker 5: that war cabinet ramped up to defeat the Confederacy in

639
00:32:18,840 --> 00:32:22,200
Speaker 5: the In the epics Civil War, the financings of there's

640
00:32:22,200 --> 00:32:24,200
Speaker 5: an argument that one of the reasons the South lost

641
00:32:24,320 --> 00:32:26,560
Speaker 5: is that they just they didn't finance it correctly.

642
00:32:26,560 --> 00:32:28,000
Speaker 2: They couldn't actually raise the money.

643
00:32:28,600 --> 00:32:32,040
Speaker 5: So Jay Gould one of the worst characters or best characters,

644
00:32:32,040 --> 00:32:33,920
Speaker 5: depending on where you come down for your libertarian you

645
00:32:33,960 --> 00:32:37,200
Speaker 5: love him if you're a patriot. He's a guy that's

646
00:32:37,200 --> 00:32:39,680
Speaker 5: a little sketchy, Rickords. How do people get to your

647
00:32:39,720 --> 00:32:43,200
Speaker 5: newsletter Strategic Intelligence? You're you're you're brilliant. You've got tons

648
00:32:43,240 --> 00:32:45,480
Speaker 5: of experience. Audience loves when you come on. Where do

649
00:32:45,520 --> 00:32:47,400
Speaker 5: people go to get the newsletter?

650
00:32:48,320 --> 00:32:48,719
Speaker 7: Thanks you.

651
00:32:48,760 --> 00:32:51,880
Speaker 8: We have a landing page called Records war Room dot com.

652
00:32:52,280 --> 00:32:54,480
Speaker 7: It's Ricords war room dot com. You go there.

653
00:32:54,520 --> 00:32:57,760
Speaker 8: You can subscribe to our new newsletter, Strategic Intelligence. But

654
00:32:57,880 --> 00:32:59,640
Speaker 8: we have a free copy of my new book Money.

655
00:32:59,640 --> 00:33:03,720
Speaker 8: GP basically looks at artificial intelligence, which is not intelligent

656
00:33:03,760 --> 00:33:05,640
Speaker 8: at all. It's all math. It's just math and nodes.

657
00:33:05,960 --> 00:33:09,280
Speaker 8: But I explained all that in plain English. But it's

658
00:33:09,800 --> 00:33:13,720
Speaker 8: the interaction of artificial intelligence, which is math and human nature,

659
00:33:13,760 --> 00:33:15,520
Speaker 8: which hasn't changed in five thousand years.

660
00:33:15,720 --> 00:33:19,320
Speaker 7: That's extremely dangerous. Now not bashing AI. It is powerful, it.

661
00:33:19,280 --> 00:33:21,800
Speaker 8: Is efficient, but there are hidden dangers, and I talk

662
00:33:21,840 --> 00:33:24,400
Speaker 8: about those dangers as they relate to the stock market,

663
00:33:24,680 --> 00:33:26,560
Speaker 8: banking and actually nuclear war fighting.

664
00:33:29,000 --> 00:33:31,440
Speaker 5: Yeah, like I said, this was one, don't read before

665
00:33:31,440 --> 00:33:35,760
Speaker 5: bedtime because bedtime will be delayed. It'll keep you up. Records,

666
00:33:36,000 --> 00:33:38,960
Speaker 5: We love you, brother. Everybody go to Records Warroom dot com.

667
00:33:38,960 --> 00:33:41,320
Speaker 5: The landing page. You get the free book. Plus you

668
00:33:41,360 --> 00:33:43,800
Speaker 5: get access to strategic intelligence.

669
00:33:43,800 --> 00:33:44,320
Speaker 2: Thank you, sir.

670
00:33:45,080 --> 00:33:45,360
Speaker 7: Thanks.

671
00:33:47,840 --> 00:33:52,000
Speaker 5: Okay, folks, we're not manning the ramparts today, but you're

672
00:33:52,040 --> 00:33:55,160
Speaker 5: thinking through. We're going to think through together and with

673
00:33:55,240 --> 00:33:56,760
Speaker 5: the President of United States, what this is.

674
00:33:56,800 --> 00:33:57,440
Speaker 2: I want to go back.

675
00:33:57,480 --> 00:33:58,840
Speaker 5: I want to play the I want to play the

676
00:33:58,960 --> 00:34:03,520
Speaker 5: Caitlin Colin in its entirety, because you're going to see

677
00:34:03,520 --> 00:34:05,960
Speaker 5: what one of the hang ups are the Democrats are.

678
00:34:06,200 --> 00:34:09,680
Speaker 5: They're number one objective, which always before was to keep

679
00:34:09,719 --> 00:34:11,600
Speaker 5: the government funded and keep the government going, because I

680
00:34:11,600 --> 00:34:13,200
Speaker 5: remember they're the party of big government.

681
00:34:14,360 --> 00:34:15,279
Speaker 2: They've had kind of.

682
00:34:15,200 --> 00:34:18,200
Speaker 5: A shift because there's a guy in the White House

683
00:34:18,640 --> 00:34:22,520
Speaker 5: called Donald J. Trump and he's supported by a folks

684
00:34:22,560 --> 00:34:25,040
Speaker 5: in this country that wear the MAGA T shirt.

685
00:34:25,280 --> 00:34:27,279
Speaker 2: So they're not so hot on this. Let's play it.

686
00:34:27,280 --> 00:34:31,360
Speaker 5: We're going to set the strategic context of the firestorm

687
00:34:31,440 --> 00:34:33,480
Speaker 5: that's going to be before us in the days and

688
00:34:33,520 --> 00:34:34,040
Speaker 5: weeks ahead.

689
00:34:34,120 --> 00:34:36,960
Speaker 3: Let's go into it, balances out, and we will none

690
00:34:36,960 --> 00:34:38,840
Speaker 3: of that's guarantee you. We'll see what those numbers look like.

691
00:34:38,920 --> 00:34:42,080
Speaker 3: Did Elon must approve of the blueprint that you passed

692
00:34:42,120 --> 00:34:43,840
Speaker 3: last night? Did he think there were enough spending cuts

693
00:34:43,840 --> 00:34:44,280
Speaker 3: in there.

694
00:34:45,480 --> 00:34:48,320
Speaker 9: Well, we haven't gotten to that yet. These are numbers

695
00:34:48,160 --> 00:34:51,680
Speaker 9: a floor at least one point five trillion in savings

696
00:34:51,680 --> 00:34:54,680
Speaker 9: that we're going to find and trying to get higher,

697
00:34:54,800 --> 00:34:56,280
Speaker 9: maybe two trillion or higher.

698
00:34:56,840 --> 00:34:57,640
Speaker 7: It's a start.

699
00:34:57,719 --> 00:34:59,919
Speaker 9: Look, you don't turn an aircraft carrier on a dime.

700
00:35:00,040 --> 00:35:02,600
Speaker 9: It takes miles of open ocean to turn an aircraft carrier.

701
00:35:02,640 --> 00:35:04,759
Speaker 9: That's what the US economy is. It took decades to

702
00:35:04,760 --> 00:35:07,000
Speaker 9: get into this situation, but we are going to begin

703
00:35:07,080 --> 00:35:07,799
Speaker 9: to bend that curve.

704
00:35:07,920 --> 00:35:09,000
Speaker 2: It's a great thing for the country.

705
00:35:09,160 --> 00:35:11,359
Speaker 3: I was just curious since you met with him after

706
00:35:11,440 --> 00:35:14,439
Speaker 3: this happened. Speaking of deadlines that are a lot sooner

707
00:35:14,440 --> 00:35:16,400
Speaker 3: than what you're talking about. There's a shutdown deadline that

708
00:35:16,440 --> 00:35:18,759
Speaker 3: is looming on March fourteenth, which you well know. Do

709
00:35:18,800 --> 00:35:20,840
Speaker 3: you think Congress is going to end up passing another

710
00:35:20,920 --> 00:35:21,880
Speaker 3: continuing resolution?

711
00:35:22,000 --> 00:35:23,680
Speaker 7: Then well, I.

712
00:35:23,600 --> 00:35:25,200
Speaker 9: Wish we didn't have to, But it looks like the

713
00:35:25,239 --> 00:35:27,680
Speaker 9: Democrats are trying to push us into that. They've added

714
00:35:27,719 --> 00:35:31,399
Speaker 9: these really crazy conditions onto the negotiation over the last

715
00:35:31,400 --> 00:35:33,840
Speaker 9: week or so. They've added a condition that says we

716
00:35:33,880 --> 00:35:36,359
Speaker 9: have to tie the hands of President Trump, that the

717
00:35:36,480 --> 00:35:39,360
Speaker 9: legislative branch would they want us to dictate to the

718
00:35:39,400 --> 00:35:43,000
Speaker 9: executive branch, for example, a base number of employees for

719
00:35:43,080 --> 00:35:45,279
Speaker 9: each agency in the executive branch. I don't even think

720
00:35:45,280 --> 00:35:49,479
Speaker 9: it's constitutional what they're requiring, but it's certainly an absurd notion.

721
00:35:49,640 --> 00:35:52,280
Speaker 3: But they're only that by that, So crgo, do you believe.

722
00:35:53,800 --> 00:35:54,600
Speaker 2: Well, we haven't.

723
00:35:54,360 --> 00:35:56,359
Speaker 9: Negotiated that yet, but if it's a CR, it may

724
00:35:56,360 --> 00:35:58,920
Speaker 9: be an entire year long CR with some anomalies on it.

725
00:35:58,960 --> 00:36:00,879
Speaker 7: You know how this works, but it's not.

726
00:36:00,800 --> 00:36:01,400
Speaker 2: What we prefer.

727
00:36:01,520 --> 00:36:04,040
Speaker 9: We would like to do individual appropriations bills, but it

728
00:36:04,080 --> 00:36:07,040
Speaker 9: takes both parties to negotiate that, and right now the

729
00:36:07,080 --> 00:36:10,000
Speaker 9: Democrats are trying to It looks like trying to set

730
00:36:10,080 --> 00:36:12,160
Speaker 9: up a government shut down. We can't allow that to happen,

731
00:36:12,280 --> 00:36:12,800
Speaker 9: and we want.

732
00:36:12,680 --> 00:36:14,560
Speaker 3: Well, you just talked about how important the work that

733
00:36:14,560 --> 00:36:17,840
Speaker 3: Elon Musk is doing is. If you pass a continuing resolution,

734
00:36:17,920 --> 00:36:20,279
Speaker 3: won't that just refund all the programs that he says

735
00:36:20,280 --> 00:36:22,840
Speaker 3: he's cutting that are full of waste, broaden abuse.

736
00:36:23,760 --> 00:36:23,800
Speaker 7: No.

737
00:36:24,000 --> 00:36:27,080
Speaker 9: Look, that's why I say you add anomalies to a CR.

738
00:36:27,239 --> 00:36:29,640
Speaker 9: You can increase in spinning, you can decrease some spinding.

739
00:36:29,680 --> 00:36:31,200
Speaker 7: You can add language.

740
00:36:30,800 --> 00:36:33,880
Speaker 9: That says, for example, the dramatic changes that have been

741
00:36:33,920 --> 00:36:37,520
Speaker 9: made to USAID would be reflected in the ongoing spending.

742
00:36:37,960 --> 00:36:40,799
Speaker 9: It would be a clean CR mostly, I think, but

743
00:36:40,880 --> 00:36:43,719
Speaker 9: with some of those changes to adapt to the new

744
00:36:43,760 --> 00:36:47,799
Speaker 9: realities here, and the new reality is less government, more efficiency,

745
00:36:48,280 --> 00:36:50,879
Speaker 9: better return for the taxpayers. And I think that's something

746
00:36:50,920 --> 00:36:51,840
Speaker 9: everybody should welcome.

747
00:36:53,600 --> 00:36:56,160
Speaker 5: Okay, let's interpret because his first time has been said

748
00:36:56,200 --> 00:36:58,680
Speaker 5: I think publicly, and Kaitlin Collins, I think did a

749
00:36:58,680 --> 00:36:59,960
Speaker 5: good job there and trying to draw it out of

750
00:37:00,120 --> 00:37:02,160
Speaker 5: them only months after the war room.

751
00:37:02,200 --> 00:37:07,160
Speaker 2: But that's fine. The Democrats. We go back to the.

752
00:37:09,600 --> 00:37:16,480
Speaker 5: Unitary executive theory where the executive was chief executive, commander,

753
00:37:16,560 --> 00:37:20,960
Speaker 5: chief and chief magistrate. Has these powers enumerated by the

754
00:37:21,000 --> 00:37:26,400
Speaker 5: constitution or laid out by the constitution. Right there, Johnson

755
00:37:26,480 --> 00:37:29,600
Speaker 5: told you that in the negotiations on a CR, whether

756
00:37:29,640 --> 00:37:31,640
Speaker 5: it's a thirty day CR or to the end of

757
00:37:31,640 --> 00:37:37,120
Speaker 5: the year or I would actually think in appropriations if

758
00:37:37,120 --> 00:37:39,120
Speaker 5: we did it with the single subject, which is what

759
00:37:39,160 --> 00:37:41,560
Speaker 5: we want, which they haven't done. And Johnson can't put

760
00:37:41,600 --> 00:37:43,640
Speaker 5: all of that on the Democrats. He's only done seven

761
00:37:43,680 --> 00:37:47,760
Speaker 5: of the twelve. But that's we've kind of blown past that, folks.

762
00:37:49,080 --> 00:37:51,759
Speaker 5: What he's saying is the Democrats are going to sit

763
00:37:51,840 --> 00:37:54,879
Speaker 5: there and say, no, we're not buying off on Trump

764
00:37:54,960 --> 00:37:56,880
Speaker 5: having these powers. I'm not going to buy off on

765
00:37:57,000 --> 00:37:59,280
Speaker 5: his new buddy Elon Musk having these powers.

766
00:37:59,280 --> 00:38:00,000
Speaker 2: We're not going to do it.

767
00:38:00,040 --> 00:38:03,160
Speaker 5: We're gon we're gonna basically set a base case of employees.

768
00:38:03,680 --> 00:38:04,360
Speaker 2: And I think.

769
00:38:04,200 --> 00:38:08,880
Speaker 5: Programmatically, bottom line, there's not going to be a CR

770
00:38:09,000 --> 00:38:12,239
Speaker 5: unless you get one hundred percent of Republican votes. As

771
00:38:12,239 --> 00:38:16,400
Speaker 5: we know and this audience knows, there's at least forty

772
00:38:16,400 --> 00:38:19,000
Speaker 5: to seventy votes in the House, and the Republican side

773
00:38:19,000 --> 00:38:20,959
Speaker 5: are saying, we can't do this again.

774
00:38:21,000 --> 00:38:24,239
Speaker 2: This is a tantamount to another omnibus, and we're not

775
00:38:24,280 --> 00:38:24,839
Speaker 2: going to do this.

776
00:38:26,040 --> 00:38:28,920
Speaker 5: What he's saying about anomalies is it won't be a

777
00:38:28,920 --> 00:38:33,120
Speaker 5: clean CR. It won't be a one liner. The anomalies

778
00:38:33,160 --> 00:38:35,080
Speaker 5: will be because remember I said, hey, you're going to

779
00:38:35,120 --> 00:38:37,799
Speaker 5: have to eat it's Biden's budget. It's two trillion dollar

780
00:38:37,880 --> 00:38:40,120
Speaker 5: deficit and none of the Doge cuts. And what she

781
00:38:40,239 --> 00:38:42,480
Speaker 5: just said not that not only the Doge cuts not

782
00:38:42,560 --> 00:38:49,120
Speaker 5: in there. You're financing the negative, you're financing usaid, So

783
00:38:49,160 --> 00:38:51,719
Speaker 5: he says there's going to be anomalies that's going to

784
00:38:51,760 --> 00:38:56,000
Speaker 5: be in the actual CR itself. In addition, and this

785
00:38:56,080 --> 00:38:58,760
Speaker 5: is why we had Teitzel kind of last man standing.

786
00:38:59,560 --> 00:39:01,480
Speaker 5: There's only a couple of guys over Sierra. They're they're

787
00:39:01,480 --> 00:39:03,439
Speaker 5: staffing up again because so many of their people are

788
00:39:03,440 --> 00:39:06,960
Speaker 5: in the administration. Jeff Clark yesterday going to go in

789
00:39:07,000 --> 00:39:10,800
Speaker 5: as the the anti regulation chief. God bless that. That's amazing.

790
00:39:11,760 --> 00:39:14,320
Speaker 5: Pay a letter over at Omb as the chief counsel.

791
00:39:14,840 --> 00:39:17,160
Speaker 5: Dan Bishop's about to get I think about to get

792
00:39:17,200 --> 00:39:19,520
Speaker 5: to confirmed, the great Dan Bishop of the Congressman and

793
00:39:19,760 --> 00:39:23,320
Speaker 5: Russ vote with Scott Besson, and you know Jason Trendt

794
00:39:23,400 --> 00:39:26,320
Speaker 5: the Treasury, Alexander Prix, you get Treasury, you get omb

795
00:39:27,320 --> 00:39:30,399
Speaker 5: And what they have said is that hey, war room,

796
00:39:30,480 --> 00:39:36,920
Speaker 5: posse maga movement, even on the CR, the impowerments will

797
00:39:36,960 --> 00:39:43,160
Speaker 5: start shortly thereafter the impowerments will start. So we're heading

798
00:39:43,200 --> 00:39:44,719
Speaker 5: And this is why I had Josh Hammer kind of

799
00:39:44,719 --> 00:39:50,920
Speaker 5: start the show. Folks, get ready, not today, not tomorrow.

800
00:39:52,000 --> 00:39:54,640
Speaker 5: We got we gotta get more details. You need more information.

801
00:39:54,800 --> 00:39:57,080
Speaker 5: You need to be fully loaded on this one because

802
00:39:57,640 --> 00:40:02,640
Speaker 5: this sets, as I said, this sets a series of events.

803
00:40:02,760 --> 00:40:06,279
Speaker 5: This critical path will set a series of events that

804
00:40:06,360 --> 00:40:09,520
Speaker 5: will go all through the reconciliation, all through the taxes,

805
00:40:09,600 --> 00:40:11,920
Speaker 5: all through everything. President Trump's trying to do is remember

806
00:40:11,960 --> 00:40:15,279
Speaker 5: that middle corridor, that middle vertical is the financial and

807
00:40:15,320 --> 00:40:20,360
Speaker 5: economic crisis that's so important, that's existential to the country

808
00:40:20,400 --> 00:40:23,479
Speaker 5: into his presidency, his second term. You have the two

809
00:40:24,040 --> 00:40:27,279
Speaker 5: things inside. Stopping the kinetic part of the Third World War.

810
00:40:27,360 --> 00:40:29,960
Speaker 5: Oh did I mention that the British Prime Minister is

811
00:40:29,960 --> 00:40:35,080
Speaker 5: about to show up about stopping the war in Ukraine

812
00:40:35,280 --> 00:40:37,880
Speaker 5: and President Trump way down the road and stop in

813
00:40:37,920 --> 00:40:40,680
Speaker 5: the war in the Middle East. And in addition, the

814
00:40:40,760 --> 00:40:44,719
Speaker 5: deportation securing the border. The border has been kind of

815
00:40:44,760 --> 00:40:49,680
Speaker 5: secured deportations in the top couple of batters in the

816
00:40:49,680 --> 00:40:50,280
Speaker 5: first inning.

817
00:40:51,080 --> 00:40:54,000
Speaker 2: But that middle vertical game on.

818
00:40:54,600 --> 00:40:57,560
Speaker 5: In the nation's capital with President Trump and the MAGA

819
00:40:57,600 --> 00:40:58,400
Speaker 5: team short.

820
00:40:58,880 --> 00:41:00,960
Speaker 2: Use your hosts, Stephen k Back.

821
00:41:03,840 --> 00:41:07,240
Speaker 5: Okay, what I just laid out is kind of everything,

822
00:41:07,280 --> 00:41:08,960
Speaker 5: and we're going to frame it more and make sure

823
00:41:09,000 --> 00:41:11,680
Speaker 5: you're fully up to speed and fully understanding this because

824
00:41:11,760 --> 00:41:13,680
Speaker 5: this between now and the fourteenth is going to be

825
00:41:14,600 --> 00:41:18,360
Speaker 5: big league and it's going to set the It's going

826
00:41:18,440 --> 00:41:22,160
Speaker 5: to lay the predicate. And you just heard in Grace

827
00:41:22,160 --> 00:41:23,880
Speaker 5: I'll get it cut, Grace will get it cut. I'm

828
00:41:23,880 --> 00:41:25,600
Speaker 5: gonna play it again on the six o'clock show what

829
00:41:25,640 --> 00:41:28,160
Speaker 5: e j Antny said at the end of the first

830
00:41:28,239 --> 00:41:31,759
Speaker 5: hour that three or four minutes is reality. I don't

831
00:41:31,800 --> 00:41:34,480
Speaker 5: believe the White House is doing enough, and we'll do it,

832
00:41:34,520 --> 00:41:37,319
Speaker 5: but to get out what the actual position of the

833
00:41:37,320 --> 00:41:41,600
Speaker 5: American economy is. He saw from these numbers today. The

834
00:41:41,600 --> 00:41:45,360
Speaker 5: inflation number for the fourth quarter was four point two percent,

835
00:41:45,440 --> 00:41:48,600
Speaker 5: not two point two percents. Biden regime, said, the Biden regime,

836
00:41:48,600 --> 00:41:51,600
Speaker 5: every number they gave you had to be reset, particularly

837
00:41:51,600 --> 00:41:53,680
Speaker 5: in labor. We've gone through that. But this thing is

838
00:41:53,719 --> 00:41:56,480
Speaker 5: not good right now. And President Trump was handed a

839
00:41:56,600 --> 00:42:00,360
Speaker 5: disaster and it's going to take some real leaders ship,

840
00:42:00,520 --> 00:42:04,920
Speaker 5: some real discernment, and just flat old toughness.

841
00:42:06,000 --> 00:42:07,160
Speaker 2: This is going to be painful.

842
00:42:07,800 --> 00:42:11,720
Speaker 5: Just is it just is You don't you don't spend

843
00:42:11,719 --> 00:42:14,920
Speaker 5: this much money, You don't get this messed up. It's

844
00:42:14,920 --> 00:42:16,680
Speaker 5: one hundred and seventy five billion dollars they want for

845
00:42:16,719 --> 00:42:17,880
Speaker 5: the deportation program.

846
00:42:18,000 --> 00:42:20,440
Speaker 2: Like what happened to the infrastructure? Where to go?

847
00:42:21,280 --> 00:42:23,680
Speaker 5: One hundred and seventy five billion dollars. Do you understand

848
00:42:23,719 --> 00:42:25,960
Speaker 5: the scale of that, the breathtaking scale of that. It's

849
00:42:26,000 --> 00:42:32,320
Speaker 5: cross boards everything. This is also China. On Tuesday, President

850
00:42:32,360 --> 00:42:36,400
Speaker 5: Trump just said it China ten percent tariff. Hey, Jase Medical,

851
00:42:36,480 --> 00:42:38,960
Speaker 5: this is the reason they're a sponsor of ours, because

852
00:42:39,000 --> 00:42:41,440
Speaker 5: they know we understand this. Rosemary Gibson and the whole

853
00:42:41,480 --> 00:42:44,359
Speaker 5: thing about the supply chain. You've been warned. So go

854
00:42:44,360 --> 00:42:47,080
Speaker 5: to the site and just check it out. The Chinese

855
00:42:47,080 --> 00:42:49,719
Speaker 5: Communist Party are just not going to sit there and

856
00:42:49,760 --> 00:42:52,560
Speaker 5: take that. It has to be done. What President Trump's

857
00:42:52,600 --> 00:42:57,040
Speaker 5: doing is smart, it's timely. We've got this, We've got

858
00:42:57,080 --> 00:42:59,560
Speaker 5: this trade deficit was one hundred I think the trade

859
00:42:59,560 --> 00:43:01,920
Speaker 5: deficit was one hundred billion dollars in December. And they're

860
00:43:01,920 --> 00:43:03,640
Speaker 5: blaming it all getting ahead of the terrace. That's not

861
00:43:03,719 --> 00:43:07,919
Speaker 5: the case. Totally different. Chase Medical dot com slash band

862
00:43:07,920 --> 00:43:10,040
Speaker 5: and go check it out today. Go to the site

863
00:43:10,320 --> 00:43:13,400
Speaker 5: and get doctor Sean. Those guys are all open to

864
00:43:13,520 --> 00:43:16,680
Speaker 5: talk to you. Also, my patriots, supply, I think now's

865
00:43:16,719 --> 00:43:20,320
Speaker 5: the time to think through Hey. You know, and it

866
00:43:20,440 --> 00:43:22,040
Speaker 5: used to be the preppers that consider it kind of

867
00:43:22,120 --> 00:43:23,040
Speaker 5: kookie or wing nuts.

868
00:43:23,080 --> 00:43:24,919
Speaker 2: Not anymore. You've got to get ahead of the game.

869
00:43:24,920 --> 00:43:28,160
Speaker 5: Here mypatriots supply dot Com, the best company in the

870
00:43:28,200 --> 00:43:31,600
Speaker 5: preparation business. They got consultants on the phone that walk

871
00:43:31,640 --> 00:43:33,240
Speaker 5: you through all of it. That's one of the reasons

872
00:43:33,560 --> 00:43:36,000
Speaker 5: we love partnering with these companies that give you access

873
00:43:36,600 --> 00:43:39,200
Speaker 5: to information. We understand the war and Posse wants to

874
00:43:39,200 --> 00:43:43,239
Speaker 5: see the receipts, and your power comes from using your

875
00:43:43,320 --> 00:43:45,200
Speaker 5: agency when you get those receipts.

876
00:43:46,840 --> 00:43:47,799
Speaker 2: That's what's going to have to.

877
00:43:47,719 --> 00:43:50,120
Speaker 5: Happen over these next days and weeks ahead. We're about

878
00:43:50,160 --> 00:43:52,560
Speaker 5: to pivot into some tough stuff, folks. It's going to

879
00:43:52,640 --> 00:43:54,799
Speaker 5: get it's going to get in early. It just is

880
00:43:56,000 --> 00:43:58,160
Speaker 5: they're not the votes there now. I mean as it

881
00:43:58,239 --> 00:44:02,760
Speaker 5: sits today. Just given where we are, you know, President

882
00:44:02,800 --> 00:44:06,240
Speaker 5: Trump's government will basically shut down at right after midnight

883
00:44:06,280 --> 00:44:09,720
Speaker 5: on the fourteenth unless we get through a very tough

884
00:44:09,760 --> 00:44:13,480
Speaker 5: political process in the cr and President Trump, I thinks

885
00:44:13,400 --> 00:44:14,080
Speaker 5: is going to make the case.

886
00:44:14,120 --> 00:44:15,520
Speaker 2: I think you'll hear some of this today.

887
00:44:16,600 --> 00:44:18,920
Speaker 5: At the same time he's trying to bring peace to

888
00:44:19,000 --> 00:44:20,200
Speaker 5: the Eurasian land mass.

889
00:44:21,480 --> 00:44:22,839
Speaker 2: Charlie Kirk's going to follow us.

890
00:44:22,880 --> 00:44:27,600
Speaker 5: You're going to have sircure, Sir Starmer show up the

891
00:44:27,640 --> 00:44:29,280
Speaker 5: Prime Ministery of the United Kingdom.

892
00:44:29,320 --> 00:44:30,880
Speaker 2: He's a labor guy. Left us.

893
00:44:31,760 --> 00:44:33,759
Speaker 5: There'll be a lot of activity this afternoon. There'll be

894
00:44:33,800 --> 00:44:37,400
Speaker 5: the press conference. Natalie will be here at five. I

895
00:44:37,480 --> 00:44:39,200
Speaker 5: may dip in and out of that, but I'll definitely

896
00:44:39,239 --> 00:44:43,360
Speaker 5: be here at six to make sure we go through,

897
00:44:43,560 --> 00:44:46,120
Speaker 5: you know, what is important from today and a couple

898
00:44:46,160 --> 00:44:47,759
Speaker 5: of things I think have been missed in all this.

899
00:44:47,840 --> 00:44:52,759
Speaker 5: Number one that I'm getting Colonel Fanel, Captain Fanel to

900
00:44:52,880 --> 00:44:55,120
Speaker 5: join me from overseas to go through what's happening these

901
00:44:55,120 --> 00:44:58,520
Speaker 5: intelligence agencies, these people in these chat rooms. And his point,

902
00:44:58,560 --> 00:45:02,360
Speaker 5: because he's he's spent his career in naval intelligence, how

903
00:45:04,239 --> 00:45:06,360
Speaker 5: he gets beyond just intelligence? How legal is this?

904
00:45:06,440 --> 00:45:06,800
Speaker 2: Anyway?

905
00:45:06,840 --> 00:45:09,479
Speaker 5: Tons of going on. Roger Kimball, one of the smartest guy's,

906
00:45:09,480 --> 00:45:11,680
Speaker 5: gonna also join me. We're i go through this day,

907
00:45:11,719 --> 00:45:16,560
Speaker 5: another historic day, Tamora Zelensky, President Trump doing it all

908
00:45:17,000 --> 00:45:18,840
Speaker 5: and where. And I got to tell you, I'm so

909
00:45:18,880 --> 00:45:20,520
Speaker 5: impressed with the Jay and TONI. You know, he's one

910
00:45:20,560 --> 00:45:21,560
Speaker 5: of the guys that are trying to get in and

911
00:45:21,600 --> 00:45:23,000
Speaker 5: I'm saying, hey, we got to have some guys on

912
00:45:23,040 --> 00:45:26,799
Speaker 5: the outside. He'll explain this stuff that four minutes and

913
00:45:26,840 --> 00:45:29,160
Speaker 5: I'll cut it and make Grace from Shorebury gets it,

914
00:45:29,200 --> 00:45:31,160
Speaker 5: and I'm gonna play it again on the sixth. Was

915
00:45:31,200 --> 00:45:33,680
Speaker 5: the single best summary in three or four minutes of

916
00:45:33,719 --> 00:45:36,080
Speaker 5: exactly where the economy stands and the mess of President

917
00:45:36,120 --> 00:45:40,799
Speaker 5: Trump was handed Mike Lindell, and folks, you should know

918
00:45:40,840 --> 00:45:43,080
Speaker 5: something about Lindell. I've gotten to be a personal friend

919
00:45:43,120 --> 00:45:45,680
Speaker 5: and a colleague and a comrade over the last couple

920
00:45:45,719 --> 00:45:49,640
Speaker 5: of years. But there's so much. This guy gets attacked

921
00:45:50,680 --> 00:45:53,600
Speaker 5: more than anybody but Trump. And I say that as

922
00:45:53,640 --> 00:45:56,960
Speaker 5: a guy that went to federal prison there after, Lindell

923
00:45:57,080 --> 00:45:59,359
Speaker 5: much more. And they're after me non stop there after

924
00:45:59,400 --> 00:46:04,719
Speaker 5: Lindell constantly, constantly, constantly. They feel that his connection, He's

925
00:46:04,760 --> 00:46:06,640
Speaker 5: kind of a Trump that can connect to a working

926
00:46:06,640 --> 00:46:10,279
Speaker 5: class audience, and particularly Mike then brings in because he

927
00:46:10,360 --> 00:46:12,760
Speaker 5: was saved late in his life. You know, he found

928
00:46:12,760 --> 00:46:14,719
Speaker 5: God and he found Jesus Christ. Lateness, like because you

929
00:46:14,800 --> 00:46:17,719
Speaker 5: read his book. He was a degenerate, right, I mean,

930
00:46:17,800 --> 00:46:21,640
Speaker 5: degenerate gambler, you know, drugs, the whole thing, but books.

931
00:46:21,760 --> 00:46:23,560
Speaker 5: I mean, I meet this guy, I say, you're one

932
00:46:23,560 --> 00:46:25,120
Speaker 5: of the nicest men. I from met him man. I

933
00:46:25,200 --> 00:46:29,399
Speaker 5: read that book. You're a flat out gangster. But that's

934
00:46:29,400 --> 00:46:31,400
Speaker 5: one of the reasons they're after you, Mike Lindell. They

935
00:46:31,480 --> 00:46:34,719
Speaker 5: understand your conversion story is powerful. You understand how you

936
00:46:35,160 --> 00:46:38,279
Speaker 5: live your faith is powerful. They understand the message you

937
00:46:38,320 --> 00:46:41,480
Speaker 5: are just being successful you are and having a happy,

938
00:46:41,719 --> 00:46:44,680
Speaker 5: successful company is what they want to destroy, and they're

939
00:46:44,680 --> 00:46:46,960
Speaker 5: trying to destroy you, Sir Mike Lindell.

940
00:46:47,600 --> 00:46:51,240
Speaker 10: Yeah, it's horrible right now, everybody. And I've just sided

941
00:46:51,840 --> 00:46:55,680
Speaker 10: this morning after talking to my lawyers and CPAs and

942
00:46:55,719 --> 00:46:59,239
Speaker 10: the Treasury Department. By the way, the IRS has attacked

943
00:46:59,280 --> 00:47:03,200
Speaker 10: my pill and it's something that's going to affect everyone,

944
00:47:03,480 --> 00:47:05,839
Speaker 10: most people in this country, and we're at the tip

945
00:47:05,880 --> 00:47:06,480
Speaker 10: of the spear.

946
00:47:06,960 --> 00:47:08,040
Speaker 2: I'm going all at him.

947
00:47:08,040 --> 00:47:10,000
Speaker 10: I'm going after the I R S for what they're

948
00:47:10,040 --> 00:47:13,480
Speaker 10: doing to us right now, and I'll have full disclosure

949
00:47:13,520 --> 00:47:16,680
Speaker 10: on that, maybe a full report on that for you

950
00:47:16,719 --> 00:47:19,040
Speaker 10: all as soon as I'm gonna find out everything I

951
00:47:19,040 --> 00:47:20,960
Speaker 10: can and can't say this afternoon, but as far as

952
00:47:21,040 --> 00:47:23,439
Speaker 10: I'm going, I'm telling it all. I mean, what they're

953
00:47:23,480 --> 00:47:27,920
Speaker 10: doing is horrific. And this was when Biden left. He

954
00:47:28,000 --> 00:47:30,600
Speaker 10: put this little little thing in here Let's let's start

955
00:47:30,600 --> 00:47:34,960
Speaker 10: with my pillow Keith Ellison in Minnesota to go after

956
00:47:35,000 --> 00:47:38,280
Speaker 10: this has been going on all week, piling on since

957
00:47:38,320 --> 00:47:41,840
Speaker 10: the President did his great shout out for myself and

958
00:47:41,920 --> 00:47:45,400
Speaker 10: others that have helped us, uh secure our elections and

959
00:47:45,400 --> 00:47:50,120
Speaker 10: and helped helped him out, and uh did Keith Ellison

960
00:47:50,160 --> 00:47:52,920
Speaker 10: the day after he went in all attacking my Lindell

961
00:47:53,040 --> 00:47:57,960
Speaker 10: Recovery Network and I and also my Lindell Foundation, uh

962
00:47:58,160 --> 00:48:01,160
Speaker 10: Lindell Lindell Outreach, all the stuff that I put all

963
00:48:01,160 --> 00:48:06,440
Speaker 10: the funding in. And it's like they is very intentional,

964
00:48:06,600 --> 00:48:08,960
Speaker 10: and it's very and they're going, We're going, why are

965
00:48:08,960 --> 00:48:12,399
Speaker 10: they attacking you? Mike Donald Trump's already in and things. Boy,

966
00:48:12,440 --> 00:48:15,160
Speaker 10: you should get relief now. No, it's it's even worse

967
00:48:15,239 --> 00:48:18,839
Speaker 10: now because they I think they realize I'm not going

968
00:48:18,920 --> 00:48:21,799
Speaker 10: to stop till we get to secure elections. And like

969
00:48:21,880 --> 00:48:24,279
Speaker 10: Steve said, they don't like the fact that it's the

970
00:48:24,320 --> 00:48:28,319
Speaker 10: American dream and be able to get to find Jesus Christ,

971
00:48:28,400 --> 00:48:31,880
Speaker 10: my Lord and Savior. They're against all everything that good

972
00:48:31,920 --> 00:48:32,520
Speaker 10: stands for.

973
00:48:34,800 --> 00:48:37,360
Speaker 5: My pillow dot com promo Code Warroom go check it

974
00:48:37,360 --> 00:48:37,800
Speaker 5: out today.

975
00:48:38,160 --> 00:48:40,880
Speaker 2: Times of Special Night Pillows.

976
00:48:40,880 --> 00:48:43,360
Speaker 10: You guys were doing for the War Room posse Promo

977
00:48:43,440 --> 00:48:45,680
Speaker 10: Code war Room, all of them that are left. The

978
00:48:45,719 --> 00:48:49,080
Speaker 10: commemorative pillows free shipping on your entire.

979
00:48:48,960 --> 00:48:51,640
Speaker 2: Order Promo Code Warroom help us out.

980
00:48:51,680 --> 00:48:52,040
Speaker 10: Thank you.

981
00:48:54,000 --> 00:48:56,320
Speaker 2: Charlie Kirk is next. We're back at five